UAE's first digital solution launched for rental payments

Dubai: In order to boost UAE's digital payment landscape, the Direct Debit System and Keyper have joined forces to introduce the nation's inaugural paperless direct debit marketplace. This collaboration heralds the advent of a revolutionary digital rental payments platform accessible to all tenants and landlords across the UAE.

Direct Debit System pioneers the transition from traditional post-dated cheque (PDC) transactions to seamless digital rent payments, providing property owners with a convenient avenue to receive rent payments digitally.

The system employs innovative technology to facilitate automatic rent deductions from tenants' bank accounts, mirroring the functionality of PDCs but eliminating the cumbersome process associated with cheques.

This initiative aligns seamlessly with the strategic directives of the UAE Central Bank and the UAE Government to promote modern payment methods, signaling a significant step towards a digital-first economy.

Keyper integrates its innovative rent facilitation services, "Rent Now Pay Later," into the rental process, offering tenants the flexibility to make monthly digital payments while ensuring landlords receive payments upfront.

The shift towards digital payments promises to enhance the rental experience for both landlords and tenants, streamlining payment processes and reducing operational costs.

Despite advancements in digital solutions, the adoption of digital rent payments has been sluggish, with the majority still relying on cheques. This collaboration targets individual and small-to-medium landlords, addressing their specific needs.

Omar Abu Innab, co-founder and CEO of Keyper, emphasizes the urgency for a modern solution, stating, " Embedding direct debit into our service will help numerous landlords in the UAE who have multiple assignment of receivables and loans from banks against their properties”.

Ummair Butt, CEO of Direct Debit System, highlighted the partnership's significance in contributing to the digital transformation of the rental market in the UAE.

“Collaborating with Keyper allows us to expand our reach and contribute to the digital transformation of the rental market in the UAE, aligning it with other comparable global cities. Together, we are setting a new standard for the entire rental market, making the process more efficient, secure, and user-friendly”, said Ummair.